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Ask HN: Best Way to Keep Savings
What do you recommend as best way to keep savings in order to prevent economic crashes that might arise after the consequences of Rusia's invasion of Ukraine.
Is it something like using e-money/digital banking apps like Wise, Revolut, etc. enough? (keep money in different currencies which translates in accounts within different banks within different regions?)
- selfhoster11 5y agoDiversifying against stormy times for the international market is part of any standard personal finance advice. I've learned a lot from a variety of blogs dedicated to the subject. I recommend checking what sites are frequently mentioned in the personal finance subreddits, and starting the exploration from there. By the way, while gold is said to be a good bet, I wouldn't recommend keeping much of your personal wealth in it. It's far better to invest in other available options.
- cinntaile 5y agoSome banks support multiple currency accounts, so it might not be necessary to open accounts in different banks. Check out the all weather portfolio or the dragon portfolio, they try to create a portfolio that performs reasonably well in "all" circumstances.
- ludovicianul 5y agoThanks. I'm also looking for ways to have cash at hand i.e. ability to use them at any time, rather than investing different products. The reason for mentioning bank accounts in different banks/countries is due to uncertainty in different regions.